East Timor government approves Portuguese real estate project in Dili

Dili, East Timor, 29 Oct – The government of East Timor Wednesday approved an investment project of Portuguese company Ensul Meci-Gestão de Projectos de Engenharia, for construction of a real estate complex in Dili.

The project includes a hotel, residential buildings, offices and retail areas as part of an investment expected to total over 75 million euros and create a significant number of jobs.

The project will be built in the Colmera neighbourhood in the centre of Dili, on land rented from the state for 50 years, and is part of the urban renewal of that area of the city.

Ensul Meci carries out turn -key engineering, public works and construction projects for residential and non-residential buildings as well as public and industrial facilities as construction is the group’s main activity.

Its portfolio includes a number of projects in East Timor such as the official residence of the President of the Republic, the Military Police quarters, the arsenal of the Metinaro Training Centre and Hotel Timor. (macauhub)

Consolidation of operations in the Angolan commercial banking sector, long-awaited by analysts, my experience its most important consolidation to date as a result of the tender offer on Portuguese bank BPI.

Angolan businesswoman Isabel dos Santos has almost 20 percent of BPI, the target of a takeover bid by Spain’s La Caixa bank, and this week is expected to announce if the stake is up for sale, and Angola is considered key to coming to an agreement. … More